The Vice-President and Prime Minister of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum and ruler of the United Arab Emirates has issued a new law to regulate and govern the timeshare industry.
The Law No 14 of 2020, is expected to go into force within the next six months. The Dubai Department of Tourism and Commerce Marketing (DTMC), will be responsible for monitoring all activities in the timeshare industry in Dubai.
DTMC will also list and classify all the residential units which will be subject to the new law and they will coordinate with the Dubai Land Department and Dubai International Financial Centre in all timeshare related matters.
Also, the Department for Tourism will have the right to inspect all timeshare facilities to ensure compliance with the law and any relevant bylaws.
All timeshare business activities will have to abide by the new laws within six months of them being implemented. The official announcement will be published in the Official Gazette in due course.
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